Italian real estate company Prelios has announced that two of its funds sold properties in Rome and Palermo during December for a total of EUR 74 mln. In the largest of the two deals, Tecla, a listed fund managed by Prelios' fund management arm, sold a commercial property at via del Tritone 142 for EUR 42 mln.
Italian real estate company Prelios has announced that two of its funds sold properties in Rome and Palermo during December for a total of EUR 74 mln. In the largest of the two deals, Tecla, a listed fund managed by Prelios' fund management arm, sold a commercial property at via del Tritone 142 for EUR 42 mln.
The building comprises 5,400 m2 of space and is mainly used for public administration. The sale generated a gross capital gain of over EUR 10.8 mln (+34.8%) compared to the book value and was higher (+3.23%) than at market value as determinted by an independent expert at end-June 2011.
Separately, the Retail and Entertainment property fund managed by Prelios sold a 8,157 m2 property in Palermo. The investment volume of EUR 32.3 mln generated a gross capital gain of EUR 3.7 mln (12.9%) compared to the valuation at end-September last year.
